DEFENCE HOLDS LINE AT ROCKWELL COLLINS
Rockwell Collins' pre-tax income held steady at $492 million for the six months to the end of March on sales down 4% to $2.3 billion. This is due to the impact of recession on commercial OEM and aftermarket customers and the timing of Boeing's production ramp-up following its 2008 machinists' strike. Chief executive Clay Jones says the civil sales outlook has been cut but government systems revenue expectations remain unchanged.
UAC CIVIL CHIEF QUITS AFTER THREE MONTHS
Russia's United Aircraft has named executive director Vladimir Smolko as the acting chief of its civil aviation division following the resignation of Valery Bezverkhny, who was instrumental in masterminding the creation of the UAC group of Russian aerospace businesses. Sources suggest Bezverkhny, who took up the position in January, resigned over control of the Sukhoi Superjet 100 and NPK Irkut MS-21 airliner projects.
US AIRLINES 'MAY FACE LOSSES IN 2009'
A US Government Accountability Office analysis has cast doubt on previous expectations of a 2009 profit for the country's airlines. These foresaw a rebound from 2008 losses to estimated profits of $4 billion to $10 billion this year based on oil prices of $55 to $62 per barrel and 4.5% to 7% declines in revenues, with profitability assured up to a 12% loss of revenue. But, says the GAO, demand looks weaker than expected and carriers are also under pressure from labour costs and debt maturities.
B/E BUSINESS JET SEGMENT FALLS HEAVILY
First quarter pre-tax profits at cabin interiors firm B/E Aerospace fell more than a fifth to $58.2 million despite an 11% rise in revenue to $523.7 million. Pro-forma figures restating first quarter 2008 results to reflect the subsequent acquisition of Honeywell's Consumables Solutions business show declines in all segments, with business jet profits less than half their level a year ago.
MTU TURNS IN HEALTHY FIRST QUARTER
MTU Aero Engines' first quarter operating profit was down 6% to €75.2 million ($98 million). Revenue was up 10% to €693 million. MTU says its commercial maintenance sector was strong thanks largely to International Aero Engines V2500 work. Net income was down 29.5% to €31 million, owing in part to higher research expenditure concentrated on its General Electric GEnx and Pratt & Whitney PW1000G engine inputs.
GROWTH PARTLY OFFSETS HONEYWELL DIVESTMENTS
First quarter aerospace segment profit declined 13% to $488 million as sales fell 9% to $2.76 billion at Honeywell, with sales growth in defence and space partly offsetting divestitures.
PORTABLE IFE MAKER EXPANDS TO COCKPIT
Portable in-flight entertainment maker IMS has expanded its offering from the cabin to the cockpit with the acquisition of electronic flight bag systems supplier Flight Deck Resources.
RECORD QUARTER FOR COMPOSITES MAKER
Composite materials maker Hexcel turned in record operating income of $39.9 million in the first quarter - up 9.6% - despite a 10.8% sales decline to $307.3 million. Boeing- and Airbus-related sales were down due to customers' inventory control.
Source: Flight International
